U.S. Global Investors, Inc. Reports Ownership of Flow-Through Units of Murchison Minerals Ltd.

SAN ANTONIO, TEXAS--(Marketwired - Oct 21, 2016) - U.S. Global Investors, Inc. ("USGI") announced today that an account over which it has investment authority acquired, on August 31, 2016, an aggregate of 3,000,000 common shares and 1,500,000 common share purchase warrants (collectively, the Securities) in the capital of Murchison Minerals Ltd., (the "Issuer") at a price of $0.23 CAD per Security, for an aggregate consideration of $690,000 CAD. If the warrants are converted into common shares, USGI will have effective control over 4,500,000 common shares.

Before the transaction on August 31, 2016, USGI had no beneficial ownership or control or direction of any Securities. As a result of the transaction on August 31, 2016, USGI effectively acquired control and direction over 4,500,000 common shares of the Issuer representing approximately 17.79% of the issued and outstanding shares of the Issuer, based upon the most recently available public information regarding the total issued and outstanding shares of the issuer.

The account over which USGI has investment authority acquired the Securities for investment purposes and may increase or decrease its interests in the Issuer in the future as considered appropriate in light of market conditions and other factors.

An Early Warning Report respecting the transaction will be filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and can be viewed at www.sedar.com.

About U.S. Global Investors, Inc.

U.S. Global Investors, Inc. is an innovative investment manager with vast experience in global markets and specialized sectors, and is well known for expertise in gold, precious metals, natural resources and emerging markets. U.S. Global Investors, Inc. is headquartered in San Antonio, Texas.